M&A Navigator: Deal pipeline – 20 July

The following is a list of deals covered in detail by M&A Navigator this week:

- DELL TO BUY OCARINA NETWORKS

US computer giant Dell (NASDAQ:DELL) announced an agreement to buy technology startup company Ocarina Networks, without disclosing financial details.

Status: Agreed

- CASTLE HARLAN TO DIVEST FROM AMES TRUE TEMPER FOR USD542M

US private equity company Castle Harlan said it had entered into an agreement to unload local non-powered lawn and garden tools producer Ames True Temper to US diversified holding Griffon Corp for USD542m (EUR418.6m).

Status: Agreed

- NIPPON TELEGRAPH CLOSES OFFER FOR US IT FIRM INTELLIGROUP

Japanese telecom Nippon Telegraph and Telephone (TYO:9432), or NTT, said its tender offer for the acquisition of US IT services firm Intelligroup (OTC:ITIG) closed on Monday.

Status: Agreed

- US ASPIRIANT AGREES TO TAKE OVER DELOITTE INVESTMENT ADVISORS

Aspiriant Investment Advisors, part of US wealth management company Aspiriant, will take over local investment advisory group Deloitte Investment Advisors LLC (DIA), a subsidiary of Deloitte Tax LLP, for an undisclosed sum.

Status: Agreed

- DUTCH CSM BUYS OUT LACTIC ACID JV IN USA

Dutch food group CSM NV (AMS:CSM) announced the acquisition of the remaining 50% it did not already own in its lactic acid production joint venture with US sector player Cargill.

Status: Closed

- MERIDIAN BIOSCIENCE FINALISES USD23.3M BUY OF BIOLINE GROUP

US life science company Meridian Bioscience (NASDAQ:VIVO) said it had closed the acquisition of London-based producer and distributor of molecular biology reagents Bioline for USD23.3m (EUR18m) in cash.

Status: Closed

- HEWITT ASSOCIATES TO BUY INVESTMENT ADVISOR ENNISKNUPP

US Hewitt Associates (NYSE:HEW), a human resources and consulting services company has struck a definitive deal to buy investment consultancy firm EnnisKnupp.

Status: Agreed

- FINMECCANICA, DCNS, THALES MAY TIE UP TORPEDO, SONAR ASSETS

Italian aerospace and defence group Finmeccanica (BIT:FNC) and French defence groups DCNS and Thales (EPA:HO) are discussing a combination of their torpedo and sonar operations.

Status: Talks

- RBS GETS THREE BIDS FOR WORLDPAY FROM PRIVATE EQUITY FIRMS

Royal Bank of Scotland (LON:RBS) received three offers for its payment processing unit WorldPay by the deadline on July 20 from private equity firms.

Status: Bidding; Speculation

- SAP SET TO GET EC APPROVAL FOR USD5.8BN SYBASE DEAL THIS WEEK

German software and services provider SAP (ETR:SAP) expects to be cleared by the European Commission (EC) to buy US enterprise software firm Sybase (NYSE:SY) for USD5.8bn (EUR4.5bn).

Status: Agreed

- TROIKA DIALOG SHAREHOLDER MAY SELL STAKE OVER NEXT 2 YEARS

Ruben Vardanyan, a major shareholder of Russian private investment bank Troika Dialog, could dispose of his holding in the bank within the next two years.

Status: Speculation; Auction

- AUSTRIAN CPAG MANAGERS AGREE TO EUR47 P/S SQUEEZE-OUT

Sulipo, the majority owner of Austrian Constantia Packaging (WBAG:COV), or CPAG, agreed with CPAG's management on cash EUR47 (USD61) per share squeeze-out price for the minority shareholders.

Status: Bidding

- THE SCOTTISH SALMON COMPANY ANNOUNCES BUY OF WEST MINCH SALMON

Salmon producer The Scottish Salmon Company said it had bought local salmon farming firm West Minch Salmon, without disclosing the price.

Status: Closed

- BARCLAYS SAYS OFFER FOR SWEDISH TRICORONA UNCONDITIONAL

UK financial group Barclays (LON:BARC) said the SEK8.00 (USD1.09/EUR0.84) recommended cash offer by its unit TAV AB to buy Swedish Tricorona (STO:TRIC) is now unconditional.

Status: Bidding

- US ENCORIUM GROUP BUYS SWISS SECTOR FIRM PROGENITOR HOLDINGS

US clinical research organization (CRO) Encorium Group Inc (NASDAQ:ENCO) has bought Swiss sector firm Progenitor Holdings AG for EUR1.7m (USD2.2m) in cash and stock.

Status: Closed

- US RG GLOBAL TAKES OVER PRO WATER IN UTAH

US water and wastewater treatment engineering company RG Global Lifestyles Inc (OTC:RGBL) has closed the takeover of Utah-based Pro Water LLC and its Blue Bench Deep Injection Well (DIW).

Status: Closed

- UK SOCO INTL TO SELL SOCO THAILAND TO SALAMANDER ENERGY

UK oil and gas company Soco International (LON:SIA) has agreed to dispose of its fully-owned unit Soco Thailand to Salamander Energy (LON:SMDR) for an initial USD105m (EUR81m) and an additional cash payment of USD1m.

Status: Agreed

- US TIMKEN AGREES TO BUY QM BEARINGS AND POWER TRANSMISSION

US manufacturer of friction management products The Timken Company (NYSE:TKR) has entered into agreement to take over Washington-based QM Bearings and Power Transmission Inc for an undisclosed sum.

Status: Agreed

- US TACTICAL AIR IN MOU TO TAKE OVER COLOMBIAN SUDAMIN

US Tactical Air Defense Services Inc (OTC:TADF), a contractor to the aerospace and defence industries, has inked a memorandum of understanding to purchase Colombian defence services contractor Sudamin A&D SA.

Status: Exclusivity

- CANADIAN AVISON YOUNG BUYS US HMLC

Canadian commercial real-estate services provider Avison Young has taken over US Hodges Management and Leasing Company (HMLC) for an undisclosed sum.

Status: Closed

- US REVELRY BRANDS TAKES STAKE IN SIGGI'S MAKER

US investor Revelry Brands has bought a minority interest in New York-based The Icelandic Milk and Skyr Corporation, known for its Siggi's Icelandic-style yoghurt brand.

Status: Closed

- EUREKO TO SELL AVERO BELGIUM FOR EUR75M

Dutch insurer Eureko BV has agreed to sell its Belgian insurance unit Avero to Swiss sector player Baloise Holding (VTX:BALN) for EUR75m (USD97.1m) in a move to exit the Belgian market.

Status: Agreed

- CYPRESS BIOSCIENCE SAYS TO REVIEW RAMIUS' UNSOLICITED OFFER

US Cypress Bioscience (NASDAQ:CYPB), a provider of therapeutics and personalised medical services, said it would review the unsolicited USD4 (EUR3.08) per-share cash offer from investment advisor Ramius.

Status: Bidding

- US TRANSPERFECT ACQUIRES CANADIAN AD-COM

US language services provider TransPerfect Translations International has acquired Canadian sector company AD-COM International without revealing any financial details.

Status: Closed

- UK SYNCHRONICA TO BUY CANADIAN ISEEMEDIA FOR CAD8.3M

UK Synchronica (LON:SYNC), a provider of mobile devices software, has agreed to take over Canadian sector firm Iseemedia (CVE:IEE) in a stock deal worth CAD8.3m (USD7.9m/EUR6.08m).

Status: Agreed

- DUTCH PHARMING SELLS 49% STAKE IN DNAGE

Dutch biotech firm Pharming (AMS:PHARM) has completed the sale of a 49% stake in biopharmaceutical company DNage BV to the company's original owners.

Status: Closed

- CARLYLE AGREES TO BUY GRUPO QUALICORP IN BRAZIL

US private equity firm Carlyle announced an agreement to buy Brazilian health services firm Grupo Qualicorp.

Status: Agreed

- BLACKSTONE REPORTEDLY NOT TO BID FOR ALPINVEST PARTNERS

US private equity firm Blackstone (NYSE:BX) has no plans to submit an offer for Europe's largest private equity firm Alpinvest Partners.

Status: Denied

- US MCKINSTRY BUYS BELAIRE SERVICE

US McKinstry, a provider of mechanical, electrical and plumbing services, has acquired air-conditioning services company BelAire Service for an undisclosed sum.

Status: Closed

- METSO CLOSES ACQUISITION OF WYESCO SERVICE ACTIVITIES

Finnish sustainable technology and services provider Metso (HEL:MEO1V) has acquired the service business of US equipment repair firm Wyesco, without providing financial details.

Status: Closed

- BLACKSTONE, TPG SAID TO WITHDRAW FROM BIDDING FOR RADIOSHACK

US private equity firms Blackstone (NYSE:BX) and TPG Capital will probably call off a planned bid for electronics retailer RadioShack (NYSE:RSH).

Status: Speculation; Talks

- HEALTHSCOPE BOARD BACKS AUD1.99BN PRIVATE-EQUITY BID

Australian Healthscope (ASX:HSP) said its board has unanimously recommended the AUD1.99bn (USD1.7bn/EUR1.3bn) joint offer of private-equity firms Carlyle and TPG to the hospital operator's shareholders.

Status: Agreed

- GERMAN OHB BUYS BELGIAN THALES ALENIA SPACE ANTWERP

German aerospace and satellite technology provider OHB Technology (ETR:OHB) announced the acquisition of Belgium-based Thales Alenia Space Antwerp, part of European satellite systems firm Thales Alenia Space.

Status: Closed

- GERMAN SAP EXTENDS TENDER OFFER FOR US SYBASE

German software developer SAP (ETR:SAP) has extended the tender offer for all outstanding shares in US enterprise and mobile software developer Sybase (NYSE:SY) to 26 July.

Status: Bidding

- UK RESOLUTION SHAREHOLDERS OK AXA DEAL

UK investor Resolution (LON:RSL) said its shareholders approved the planned acquisition of the UK life operation of French insurer AXA (EPA:AXA), as well as the rights issue to finance the deal.

Status: Agreed

- ITALIAN ENI MULLS OVER SELLING GALP ENERGIA STAKE

Italian oil and natural gas group Eni (BIT:ENI) is negotiating the sale of its 33.34% stake in Portuguese peer Galp Energia (ELI:GALP).

Status: Talks

- INDIAN RELIANCE REPORTEDLY IN TALKS WITH US QUICKSILVER

Indian refiner Reliance Industries (BOM: 500325) is negotiating a partial or entire acquisition of US independent energy company Quicksilver Resources (NYSE:KWK).

Status: Talks; Speculation

- RAMIUS MAKES USD4 P/S CASH APPROACH FOR CYPRESS

US investment advisor Ramius said it had approached the board of Cypress Bioscience (NASDAQ:CYPB), a provider of therapeutics and personalised medical services, with a USD4 (EUR3.09) per-share all-cash offer to buy the rest of the company.

Status: Bidding

- US CLIFFS NATURAL RESOURCES EXTENDS BID FOR SPIDER, OWNS 81.8%

US miner Cliffs Natural Resources (NYSE:CLF) said it had extended to 26 July its CAD0.19 (USD0.18/EUR0.14) per share offer for Canadian mineral exploration firm Spider (CVE:SPQ) after securing 81.8% acceptance by 16 July.

Status: Bidding

- BELGIAN DELHAIZE SHOWS INTEREST IN ALDI'S GREEK STORES

Belgian food retailer Delhaize (EBR:DELB) has expressed interest in German discount retailer Aldi's Greek business.

Status: Bidding; Speculation

- GDF SUEZ CONFIRMS MERGER TALKS WITH INTERNATIONAL POWER

French utility GDF Suez (EPA:GSZ) said it was in preliminary merger talks with British sector player International Power (LON:IPR).

Status: Talks

- CANADIAN CONSORTIUM BIDS GBP3.25 P/S FOR UK TOMKINS

The board of UK engineering and manufacturing company Tomkins (LON:TOMK) said it had been approached by a consortium with a proposal to buy it for GBP3.25 (USD4.9/EUR3.9) per share in cash.

Status: Bidding

- NATIONAL BANK OF GREECE SAID TO PLAN MERGER

National Bank of Greece (NYSE:NBG) plans to merge with either another leading Greek bank or a foreign lender.

Status: Speculation

- GERMAN ARQUES PLANS TO EXIT GIGASET CAPITAL IN 2010

German venture capital group Arques (ETR:AQU) intends to offload its telephone unit Gigaset Communications later this year after fully acquiring it.

Status: Auction

- UK KEWILL SAYS STILL IN TALKS TO BE TAKEN OVER

The board of UK software and services company Kewill (LON:KWL) said it was still in talks with an unnamed party over a possible offer for Kewill, without giving any further details.

Status: Talks; Bidding

- UK INTERNATIONAL POWER SAYS IN TALKS TO TIE UP WITH GDF SUEZ UNITS

The board of UK power generation company International Power (LON:IPR) said it was in preliminary discussions with French utility GDF Suez (EPA:GSZ) over a proposal to merge with GDF Suez's Energy International Business Areas and some operations in the UK and Turkey.

Status: Talks

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